ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday said that Pakistan has become the first country to implement the global initiative for digital foreign direct investment.
In a post on his X handle, the Prime Minister said he is proud to witness Pakistan as the first country to implement the Digital Foreign Direct Investment initiative of the World Economic Forum and the Digital Cooperation Organisation.
The World Economic Forum (WEF), in collaboration with the Digital Cooperation Organisation (DCO) had launched the Digital Foreign Direct Investment Initiative in 2022 to enhance cross-border digital investment, particularly in emerging markets.
Pakistan was the first country to volunteer to implement the initiative, marking the beginning of the Digital FDI-Enabling Project (DEP) in 2022. The digital investment ecosystem is structured around four pillars: digital infrastructure, digital adoption, new digital activities and digital services exports.
The premier took to the social media platform X to announce that the South Asian country has become the first country to adopt the digital foreign direct investment initiative.
“From expanding revenues to increasing workforce and global exports, Pakistan is scaling new heights in its stride for digital transformation,” PM Sharif said on X. He was “proud” to witness Pakistan as the first country to implement the initiative, it added.
“We reaffirm our unwavering commitment to cultivating a thriving digital investment ecosystem, paving the way for #DigitalProsperity4All.”
Proud to witness Pakistan as the first country to implement the Digital Foreign Direct Investment Initiative, a @dcorg and @wef collaboration for driving cross-border digital investment.
— Shehbaz Sharif (@CMShehbaz) January 18, 2025
From expanding revenues to increasing workforce and global exports, Pakistan is scaling new…
In its report on Friday, the WEF said that a consultative and data-gathering process identified 55 policy options as possible recommendations for addressing gaps in Pakistan’s digital ecosystem and attracting more digital FDI.
These insights were consolidated in a Findings Note that was reviewed by government partners and key industry stakeholders and presented to participants at a consultative workshop. The policy options were collectively prioritized to establish priority actions, according to the report.
Throughout the project, key stakeholders across each category were actively engaged through a series of consultations, follow-up meetings and a dedicated stakeholder workshop. This comprehensive engagement provided invaluable insights into Pakistan’s digital landscape and investment ecosystem to inform the project’s direction and outcomes.
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“Pakistan is striving to boost digital foreign direct investment in the country by promoting a ‘digital-friendly’ investment climate,” the report read.
Last year, State Minister for Information Technology (IT) Shaza Fatima Khawaja said Pakistan planned to establish a National Digital Commission to ensure digitization of its economy and governance.
